Speculation about Alibaba founder Jack Ma sent the shares of one Hong Kong-listed biochemical company soaring nearly 800% this week, according to a Nikkei Asia report.
Chia Tai Enterprises International, which is majority-owned by Thai conglomerate Charoen Pokphand Group, saw its shares surge after the Hong Kong Economic Times reported that Ma met Dhanin – Thailand’s richest man and the senior chairman of CP Group – and his son Suphachai Chearavanont, CEO of CP Group, over the Lunar New Year holiday in Hong Kong.
Full story: Nikkei Asia
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